Banking the unbanked: the Indian revolution4 min read 21 Nov 2017, 11:37 PM IST
Due to lowering of bank transaction costs, hundreds of millions of people who lacked access to financial services are revealing a latent demand
Financial inclusion—providing universal access to financial services and encouraging their use—is an important means for promoting economic development. As of 2014, the World Bank estimated that there were still two billion adults without a bank account, and many others with only a tenuous connection to the financial system.
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